Monday, May 9, 2011

Misleading News & Record Real Estate Article?: "Greensboro home sales up, but prices down"

"Home sales in the city rose nearly 11 percent in the first three months of 2011.

...602 existing single-family homes were sold in January, February and March.

That's up 10.8 percent compared to the last quarter of 2010.

Why would who want to compare dissimilar quarters?

Why would the News & Record
use an apples to oranges comparison in the title?

A year-to-year comparison shows this quarter
fell a little short of the first quarter of 2010.

First quarter 2011 sales were down 0.6 percent
from the same quarter a year ago.

Average sales price

First quarter 2011: $172,456.
Fourth quarter 2010: $188,527
First quarter 2010: $173,738

Average time on market

First quarter 2011: 114.8 days
Fourth quarter 2010: 114 days

Inventory of homes

After first quarter 2011: 2,352
After first quarter 2010: 2,746

...Kathleen Sullivan, president of the Greensboro Regional Realtors Association, '
said sales in early 2010 were boosted by a federal housing tax credit that was in effect until April 2010."

What is an apologist?
If "sales in early 2010 were boosted by a federal housing tax credit",
that was meant to save the housing market,
is this an indication of a national policy failure of epic proportions
paid for with money borrowed from American children?

Greensboro home sales up, but prices down
Staff Reports

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